ABBOTT: No, Obama said
you can't count the "Out of Work" as the unemployed. You have to look for work
to be unemployed.

COSTELLO: BUT THEY ARE OUT OF
WORK!!!

ABBOTT: No, you miss his
point.

COSTELLO: What
point?

ABBOTT: Someone who
doesn't look for work can't be counted with those who look for work. It
wouldn't be fair.

COSTELLO: To
whom?

ABBOTT: The
unemployed.

COSTELLO: But ALL of them are
out of work.

ABBOTT: No, the
unemployed are actively looking for work.

Those who are out of
work gave up looking and if you give up, you are no longer in the ranks of the
unemployed.

COSTELLO: So if you're off
the unemployment roles that would count as less
unemployment?

ABBOTT: Unemployment would
go down. Absolutely!

COSTELLO: The unemployment
just goes down because you don't look for work?

ABBOTT: Absolutely it
goes down. That's how it gets to 5.6%. Otherwise it would be
23%.COSTELLO: Wait, I got a
question for you. That means there are two ways to bring down the unemployment
number?ABBOTT: Two ways is
correct.

COSTELLO: Unemployment can go
down if someone gets a job?

ABBOTT:
Correct.

COSTELLO: And unemployment
can also go down if you stop looking for a job?

ABBOTT:
Bingo.

COSTELLO: So there
are two ways to bring unemployment down, and the easier of the two is to have
people stop looking for work.

Does the 23% number include retirees, people on disability and people laid off but collecting a company severence? I think it does. This means the 23% number is high... but, it doesn't change the conclusion: Under Obama we've got many more "burger flippers" while he's increasing the welfare state, destroying jobs in the energy industry, and raising wages & benefits which will haasten the move to robotics in the service industries. Hillary as President will only make this worse.

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